First six to 18 months is most critical

SURREY Business Enterprise Agency has been able to carry out its own survey of client survival rates for the first time. Mike Instone, managing director of the Woking High Street-based free business advisory and mentoring service, says: “The survey was undertaken with our second half 2002 clients. “This included those who first came as pre-starts and subsequently started plus those that came to us as an existing businesses. “At the time of the survey the average age of the new start-ups was 15 to 18 months while that of existing businesses was around four years. “The average rate of survival for the new starts was 81 per cent and for existing businesses 96 per cent.” Mike says he finds these survival rates quite encouraging. “In part we believe this is due to some clients deciding not to proceed with their idea following a talk with our advisors. “In this way, only the better prospects tend to go ahead.” He said: “It also indicates that the most crucial period for a new small business start-up is the first six to 18 months. These are good reasons for people to seek our advice, both before starting and in the early stages of their business.” For more information call Surrey Business Enterprise Agency on 01483 728434.